NEWS

The U.S. Energy Information Administration (EIA) stated that hourly electricity demand in the Lower 48 peaked at 704 gigawatts (GW) on Friday, July 19th for the hour ending at 6:00 pm EST. Demand has not been that high since July 2017 and really shows the impact of all the coal-to-gas switching for power generation. The…

According to data from S&P Global Platts, and reported by the EIA, the United States set a new record for natural gas consumption by electric power plants of 44.5 Bcf/d on Friday, July 19th. This surpassed the previous record of 43.1 Bcf/d set on July 16, 2018. All of the coal-to-gas switching the last few…

NOAA released their updated Three Month Temperature and Precipitation Outlooks on June 20th for the months July, August, and September 2019. From the charts below, you can see both coasts in the contiguous US have the highest probability of above-average temperatures over that period with more seasonal/below average temperatures expected for the rest of the…

In their most recent post, EIA announced that in 2018, 90% of the natural gas used in the United States was produced domestically. The article also stated that 2017 was the first year since 1966 that annual dry natural gas production exceeded consumption. Gross withdrawals of natural gas totaled 37 Tcf in 2018 with over…

EIA stated that on June 6th the prompt (Jul19) NYMEX natural gas futures contract closed at a three-year low of $2.324/MMBtu. Record US production and seasonally mild temps have kept prices low even though total US storage still sits at a deficit to the five-year average (-230 Bcf as of June 7th) and exports are…

In their most recent Short Term Energy Outlook (May ’19), the EIA projects US power plants to generate 1.168 million megawatts of electricity during the summer months this year (June – August). Natural gas will be the primary fuel source with EIA estimating a 40% market share, up from the 39% share last summer. The…

NOAA’s latest three-month outlook (published 4.18.19) for the period June, July, and August 2019 show a high probability of above-average temperatures along both coasts and parts of the Upper Midwest. With all of the coal-to-gas switching for power generation, this could tighten up the market very quickly if there are any extended blasts of scorching…